Imperial Brands PLC Disposal (6272D)
October 29 2020 - 6:25AM
UK Regulatory
TIDMIMB
RNS Number : 6272D
Imperial Brands PLC
29 October 2020
IMPERIAL BRANDS PLC
29 October 2020
Legal Entity Identifier (LEI) No. 549300DFVPOB67JL3A42
Imperial Brands PLC completes sale of its Worldwide Premium
Cigar Businesses
Imperial Brands PLC ("Imperial") is pleased to confirm the
completion today of the sale of its worldwide premium cigar
businesses ("Premium Cigars") for a total consideration of EUR1,225
million, of which net cash proceeds of EUR1.1 billion will be used
to reduce debt.
As announced on 27 April 2020, EUR88 million of consideration
will be deferred for 12 months from today's close, with a further
EUR69 million deferred and contingent upon the transfer of the
Dominican Republic factory, which is expected to complete in 2021.
As subsequently announced on 28 September, Imperial has provided a
further six-month deferral of EUR250 million while the buyers
finalise long-term financing arrangements.
ENDS
Investor Contacts Media Contacts
+44 (0)7970 328 +44 (0)7967 467
Peter Durman 903 Alex Parsons 241
+44 (0)7964 110 +44 (0)7967 467
Matt Sharff 921 Simon Evans 684
+44 (0)7581 052
James King 880
Cautionary Statement
Certain statements in this announcement constitute or may
constitute forward-looking statements. Any statement in this
announcement that is not a statement of historical fact including,
without limitation, those regarding the Company's future
expectations, operations, financial performance, financial
condition and business is or may be a forward-looking statement.
Such forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from those projected or implied in any forward-looking statement.
These risks and uncertainties include, among other factors,
changing economic, financial, business or other market conditions.
These and other factors could adversely affect the outcome and
financial effects of the plans and events described in this
announcement. As a result, you are cautioned not to place any
reliance on such forward-looking statements. The forward-looking
statements reflect knowledge and information available at the date
of this announcement and the Company undertakes no obligation to
update its view of such risks and uncertainties or to update the
forward-looking statements contained herein. Nothing in this
announcement should be construed as a profit forecast or profit
estimate and no statement in this announcement should be
interpreted to mean that the future earnings per share of the
Company for current or future financial years will necessarily
match or exceed the historical or published earnings per share of
the Company. This announcement has been prepared for, and only for
the members of the Company, as a body, and no other persons. The
Company, its Directors, employees, agents or advisers do not accept
or assume responsibility to any other person to whom this
announcement is shown or into whose hands it may come and any such
responsibility or liability is expressly disclaimed.
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END
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October 29, 2020 06:25 ET (10:25 GMT)
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